ZeroFOX Secures $11M in Series A Funding Led by NEA to Combat Social
Cyber Attacks

The Social Risk Management Company™ Leads the Fight Against
Social-Borne Cyber Attacks by Mitigating Risk Introduced to Enterprise
and Government Organizations via Social Media

April 30, 2014 01:05 PM Eastern Time

BALTIMORE--(EON: Enhanced Online News)--ZeroFOX,
The Social Risk Management Company™, today announced it has secured
$10.7 million in Series A funding led by New Enterprise Associates
(NEA). The funding round includes a $450K non-dilutive incentive from
the State of Maryland. Also participating in the round were earlier
investors Genacast Ventures (a fund in partnership with Comcast
Ventures), Core Capital and a number of notable security industry
luminaries including Enrique Salem (Board Member at FireEye and former
CEO of Symantec), Dean Drako (Founder and CEO of Eagle Eye Networks and
founder, BOD and former CEO of Barracuda Networks), Michael Fey (General
Manager and WW CTO at McAfee), John M. Jack (Former CEO of Fortify and
currently a Board Partner at Andreessen Horowitz), Ken Levine (CEO of
Verdasys and former CEO of Nitro Security), and Todd Headley (former CFO
of SourceFire), amongst others, bringing total funding over the last 12
months to $13 million.

“Peter
Barris and NEA are among the very best investors and business partners
worldwide. Their confidence in our vision and our team are true
testaments that we are on to something very big.”

NEA is one of the largest venture capital firms in the world with a
current investment fund of $2.6B. “We are very excited to join the
ZeroFOX team as they work to defend against the growing problem of
intelligent cyber threats,” said Peter Barris, Managing General Partner,
NEA, and ZeroFOX Board Member. “The security space has not evolved at
the same pace as new consumer social media tech has and we think ZeroFOX
is poised to address a very critical part of security for enterprise
customers. The team's deep expertise in the security space positions
them well to tackle this challenge, and we look forward to partnering
with them.”

“I continue to be humbled by the support and momentum we are gathering
at ZeroFOX,” said James C. Foster, Co-Founder and CEO of ZeroFOX. “Peter
Barris and NEA are among the very best investors and business partners
worldwide. Their confidence in our vision and our team are true
testaments that we are on to something very big.”

According to the 2013 Verizon Data Breach Report, nearly 1/3 of all data
breaches occurred via social as the primary attack vector. ZeroFOX is
uniquely focused on this attack vector, enabling organizations to
identify, manage, and mitigate the information security risks associated
with employee and corporate social media usage. From targeted
social-based cyber attacks to fraud, phishing, social engineering and
impersonations, the ZeroFOX
Platform provides real-time risk management, threat intelligence and
security analytics.

“Social media and peer-to-peer communications are increasingly used as a
medium for attacking individuals’ digital personas and undermining
enterprise security,” said Larry Walsh, Chief Analyst at The 2112 Group.
“The need for effective identification and mitigation of social-based
security threats is long overdue.”

“ZeroFOX is the only organization that sits at the intersection of cyber
security and social media, helping customers address the information
security risks associated with social,” said Evan Blair, Co-Founder and
COO, ZeroFOX. “Now, with NEA’s support we are in position to become the
global brand for Social Risk Management.”

ZeroFOX was founded in January of 2013 and has collected a number of
industry awards including being recognized as the CRN’s Top 10 Security
Companies, 2013 Maryland Cyber Company of the Year, Winner of Chesapeake
Regional Technology Council 2014 Rising Star Award, Winner of the 2013
Mid-Atlantic Venture Association Capital Connection TechBuzz show in
Washington D.C., ‘Incubator Company of the Year’ for the state of
Maryland in June 2013, and Baltimore Business Journal's ‘Top 5 Cyber
Companies to Watch’, ‘20 Most Promising Security Companies’ by CIO
Review, and Daily Record’s ‘Innovator of the Year’.

About NEA

NEA is a leading venture capital firm focused on helping entrepreneurs
build transformational businesses across multiple stages, sectors and
geographies. With more than $13 billion in committed capital, the firm
invests in information technology and healthcare companies at all stages
in a company’s lifecycle, from seed stage through IPO. NEA’s long track
record of successful investing includes more than 175 portfolio company
IPOs and more than 300 acquisitions. For additional information, visit: http://www.nea.com.

About ZeroFOX

ZeroFOX, The Social Risk Management Company™, enables organizations to
identify, manage, and mitigate the information security risks associated
with employee and corporate social media usage. From targeted
social-based cyber attacks to fraud, phishing, social engineering and
executive impersonations, ZeroFOX provides real-time risk management,
threat intelligence and security analytics. The ZeroFOX Platform is a
suite of cloud-based security and analytics products that help
enterprise and government customers proactively manage information
security risks related to social media. Prior to ZeroFOX, organizations
had no visibility into this extended perimeter and attack surface. To
find out more information about ZeroFOX or to join our team, please
visit: http://www.zerofox.com.